Cashew nut export contracts worth $200 million from now until the third quarter of 2012 were signed at the 7th international customer conference held by the Vietnam Cashew Association (Vinacas) in Nha Trang city, Khanh Hoa province on May 22-23.

In his speech, deputy minister of Industry and Trade Nguyen Thanh Bien said the prime minister has approved an overall plan for agricultural development until 2020 with a vision for 2030.

The plan includes research into new high-yield varieties for the purpose of processing different products, Bien noted.

Nguyen Duc Thanh, head of Group 20 Vietnam Leading Cashew Shippers, said Vietnam is now placed third in terms of cashew output, second in cashew processing, and first in the international list of cashew exporters.

In the first four months of 2012, Vietnam’s cashew exports earned $382 million, up 30 percent in volume and 22 percent in value compared to the same period last year, Thanh noted.

John Waring, Chair of the Waring Group, agreed to increase domestic cashew consumption by 20-25 percent each year. He also suggested that Vinacas should promote cashew sales and advertising at all hotels in the country to help raise the purchasing power.

Pino Calcagni, Chair of the International Nut and Dried Fruit Council Foundation (INC), told a recent international conference held in Singapore that Vietnam should take advantage of the information to promote cashew exports as cashew consumption spending already hit $4 billion globally.

From Nha Trang city, international delegates will visit some cashew nut growing areas in Dak Lak, Dak Nong and Binh Phuoc provinces to consider long-term business cooperation with Vinacas.